First Financial Bank Trust Division Sells 1,439 Shares of Oracle Corporation $ORCL

Key Points

• First Financial Bank Trust Division has reduced its holdings in Oracle Corporation by 4.8%, selling 1,439 shares and retaining 28,734 shares with a total value of $6.28 million.
• Analysts remain optimistic about Oracle, with 25 analysts rating the stock as a Buy, while the average price target has increased to $296.84.
• Oracle's recent quarterly earnings exceeded expectations, reporting $1.70 EPS on revenues of $15.90 billion, and has announced a quarterly dividend of $0.50 per share.

First Financial Bank Trust Division reduced its position in Oracle Corporation (NYSE:ORCL - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,734 shares of the enterprise software provider's stock after selling 1,439 shares during the quarter. First Financial Bank Trust Division's holdings in Oracle were worth $6,282,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Oracle by 71.6% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock valued at $35,984,000 after buying an additional 107,404 shares during the period. Lockheed Martin Investment Management Co. increased its holdings in Oracle by 4.3% in the 1st quarter. Lockheed Martin Investment Management Co. now owns 51,350 shares of the enterprise software provider's stock valued at $7,179,000 after buying an additional 2,110 shares during the period. Strs Ohio acquired a new stake in shares of Oracle in the 1st quarter valued at approximately $108,572,000. CBM Financial LLC acquired a new stake in shares of Oracle in the 1st quarter valued at approximately $356,000. Finally, Nuveen LLC acquired a new stake in shares of Oracle in the 1st quarter valued at approximately $732,692,000. 42.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $240.00 price target (up from $200.00) on shares of Oracle in a research note on Thursday, June 12th. KeyCorp raised their price target on shares of Oracle from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, June 12th. Scotiabank restated an "outperform" rating on shares of Oracle in a research note on Wednesday. Cantor Fitzgerald raised their price target on shares of Oracle from $271.00 to $400.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Oracle in a research report on Wednesday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $296.84.

Oracle Stock Down 5.1%

Shares of NYSE ORCL opened at $292.07 on Friday. The company has a market capitalization of $820.38 billion, a P/E ratio of 67.61, a price-to-earnings-growth ratio of 4.10 and a beta of 1.46. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $345.72. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.75 and a current ratio of 0.62. The company's 50 day moving average price is $244.69 and its 200-day moving average price is $190.37.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. The firm had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.63 EPS. Equities analysts forecast that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th will be paid a $0.50 dividend. The ex-dividend date is Thursday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.7%. Oracle's payout ratio is currently 46.30%.

Insider Buying and Selling

In related news, Director Rona Alison Fairhead acquired 480 shares of the stock in a transaction dated Monday, July 7th. The stock was bought at an average price of $233.87 per share, for a total transaction of $112,257.60. Following the purchase, the director directly owned 22,110 shares of the company's stock, valued at $5,170,865.70. The trade was a 2.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total transaction of $770,655.96. Following the completion of the sale, the director owned 31,447 shares of the company's stock, valued at $7,337,214.04. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,183 shares of company stock worth $10,353,198 over the last ninety days. 42.20% of the stock is owned by company insiders.

Oracle Company Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

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